T-91 Uplands Phase I Design Presentation
Item No: 8e_Supp Date of Meeting: February 26, 2019 T-91 Uplands Development Design Funding February 26, 2019 New Development at Terminal 91 Requesting authorization for overall master planning, environmental review, permitting and Phase I design located at the northeast end of Terminal 91 Uplands Total authorization to date to $4,300,000. Part of 2019-2023 Capital Improvement Plan 2 Terminal 91: Many Attempts to Develop Uplands 2000: Harbor Development Strategy 2004: North Bay plan proposed mixed use (including biotech) 2012: Proposed mix of light industrial buildings and yard leases (considered parking garage and office building) Proposed ground lease to 3rd party developer Challenged with cost of infrastructure Lots of Effort No Substantial Uplands Development 3 T91 Uplands Maker District Actions 1. Determine cost of utilities and infrastructure needed to support new development 2. Develop master plan to guide Uplands development 3. Work with stakeholders Tent allow for the opening camp 5 of the north gates. Image Credit: Heartland Port Real Estate Strategic Plan (2016) Focused on "Maritime Makers" 4 4 Terminal 91 Uplands Infrastructure Study Square Footage of Building Development Infrastructure Costs Phase 1 100,000 $700k Phase 2 300,000 $5M Phase 3 300,000 to 600,000 $28.3M TOTAL 700,000 to 1,000,000 $34M Off-site connection to City sanitary sewer to north P1 New Port electrical transformer & communications pedestals Minor natural gas relocation New sanitary sewer main sized for full 1 million sf development P2 New regional storm drain water quality treatment facility New Port electrical transformer Construction of central arterial access road & associated utility corridor Replacement of existing 42" storm drain main within western P3 development footprint with new pipe in utility corridor Add cooling fans to 2 existing site electrical substations to increase site power capacity (by Seattle City Light) Defining Utilities and Infrastructure Needed to Support Future Development 5 Developing Facilities for Maritime Manufacturers & Suppliers Supports growth of commercial fishing and Maritime Cluster "The limited supply of industrial property in Seattle in general, and Ballard Interbay in o Industrial property in particular, is resulting in rising rents and Ballard/Interbay area in short building sale prices. The Port is in a position to relieve some of this pressure while supporting supply the fleet and the maritime industrial sector by o Rising rent costs and high developing additional industrial space" building sales prices Fishermen's Terminal Real Estate Demand Study o Fishing and maritime and Fishing Cluster Economic Growth Model manufacturers and suppliers Madison Bay Commercial (12/15/15) want space at Terminal 91 Supporting Maritime Cluster in Ballard/Interbay 6 Types of Companies Interested in T91 Demand for space continues to be very strong: o Seafood processing equipment manufacturer 40-50,000 sf o Fishing gear manufacturer and supplier 30-40,000 sf o Fishing vessel processing equipment manufacturer 40-50,000 sf o Fishing/Cruise industry refrigeration supplier 50,000 sf o Cold and dry storage warehouse 100,000 sf o Local plastics manufacturer 50-100,000 sf o Data Center 2 acres Significant Demand for Light Industrial Facilities from Maritime Companies 7 Tenant Leasing Steps & Timing Today's action will Leasing Steps/Strategy generate new/renewed 1. Finalize and permit new buildings and start interest construction on-site 2. Complete underwriting and rental rates Staff will follow up with 3. Develop list of prospective tenants and prospective tenants and size/infrastructure needs 4. Identify best user/covenant criteria negotiate leases as 5. Sign initial leases during construction period construction unfolds Leases will be finalized prior to completing construction to allow for tenant specific fit-outs 8 Major Phased Development Plan Unique permit in Seattle land use code One land use permit provides up to 15 years of construction authorization Applies to multiple developments phased over time on one large site Master Phased Development provides flexibility in design, permitting, and construction 9 Terminal 91 Development Schedule Maritime/Economic Development Project Project Project 2018 2019 2020 2021 2022 2023 Project Sponsor Manager Complexity Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 T-91 Uplands Development Economic Tim 3 Design Funding Dev Division Leonard * Community engagement tasks will vary by project needs Community Engagement* Commission Approval Environmental Review Planning/Design Construction 10 Community Engagement and Communications Robust community outreach and communications efforts will augment the EIS. Outreach will keep a wide range of stakeholders informed about schedule, design scope, impacts, etc. Liaison work will continue with transportation planning teams from the City of Seattle, METRO and Sound Transit 11 APPENDIX 12 Terminal 91 HISTORY Late 1800's - Intertidal marsh land 1913 to 1917 - Piers 90 & 91 constructed (originally called pier 40 & 41) WWII - Navy acquires for Supply depot 1974 - Port re-acquires terminal from Navy 1974 to Present - Facility used to support a number of maritime cargo and fishing related services such as cold storage, moorage, automobile imports, fish processing, light manufacturing, fuel tanks, open storage and a cruise terminal ZONING AND DEVELOPMENT Zoning is IG1 U45 - This means the facility is allowed to support any industrial activity. Critical Areas (ECA) - T91 lies within the liquefaction and Steep Slope geography of the ECA. PORT UPLANDS DEVELOPMENT PLANS/ATTEMPTS 2004: North Bay plan proposed mixed use (including biotech) 2012: Proposed mix of light industrial buildings and ground leases but NPV negative due to needed infrastructure investments 13 T91 Uplands Phase 1 Redevelopment 14 T91 Uplands Phase 2 Redevelopment 15 T91 Uplands Phase 3 Full Build Out 16 Real Estate Development Work @ T91 Completed comprehensive infrastructure analysis in 1/2018 Completed initial masterplan study for 1M SF of light industrial development Prepared Commission request for design funding of Phase 1 of 100k SF Engaged in ongoing discussions with Expedia on future transportation impacts Engaged with SDOT regarding re-evaluation of existing Magnolia Bridge Engaged with Sound Transit on future Interbay/Ballard transit line location 17
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